Wire transfers are the most efficient way to send money to another account. This is important if money is needed promptly and the sender has no way of giving the money to the recipient except through mail. Wire transfers are usually safer than mailing a check or money because it is done directly between banks.
Instructions
1. Open a checking account at a bank. Inquire about their wire transfer services and if it is possible for you to use your checking account to send money. Sometimes, a bank only allow wire transfers between domestic banks, so be sure to know your needs and if the bank you are choosing is able to meet these.
2. Get the bank information of the recipient. This includes the name of the bank and the account owner, as well as her account number and routing number. This will allow you to input the information online when you log in to your bank account and the prompt asks you for the recipient information. Knowing these things in advance will help you save time and will allow the process to go faster.
3. Ask about the fees. Wiring money often comes with a fee at both sending and receiving banks. Be sure that before you wire the money, you are aware of the fees at both banks so you can decide whether or not to go through the process.
4. Follow the process of wiring money online. Log in to your bank account online and under the area where bank services are listed. If your bank does not allow you to do this, you can open an account with Paypal and transfer money from your checking account to Paypal and wire the money from Paypal.
5. Contact the recipient. Ask the recipient from time to time if he or she has received the money you sent through wire. Wire transfers may take a couple of days to process, so inquire at your bank how long the wait is so you can confirm with your recipient. Be sure to tell him or her how much you are sending so he or she can anticipate how much to get. This way, you both will be aware of substantial changes between the money you sent and the money they received. If there are any discrepancies that you were not expecting, notify both banks immediately to protect yourself and raise a flag on consumer safety.
